On average, electricity users in Lakewood, WA spend about $114 per month on electricity. That adds up to $1,368 per year.
That’s 29% lower than the national average electric bill of $1,919. The average electricity rates in Lakewood, WA cost 10 ¢/kilowatt-hour (kWh), so that means that the average electricity customer in Lakewood, WA is using 1,159 kWh of electricity per month, and 13,908 kWh over the course of the year.
Solar saves you money by reducing or eliminating your monthly electricity bill. The amount that you can save with solar in Lakewood, WA is based on two factors: how much you spend on electricity now and how much of your electricity bill you can offset with solar.
Based on the intensity and amount of sunlight hours in Lakewood, WA, the average electricity customer in Lakewood, WA will need a 10.1 kilowatt (kW) solar panel system to offset 100% of their annual electricity consumption of 13,908 kWh per year. On the EnergySage Marketplace, solar shoppers in Lakewood, WA pay an average of $28,000 for a 10.1 kW solar panel system prior to incentives.
The savings from offsetting 100% of an electricity bill with solar can add up fast! Assuming an 2.6% annual increase in electricity prices, someone in Lakewood, WA can expect to save $1,400 in their first year, $7,200 over five years, $15,400 over 10 years, and $35,400 over 20 years on electricity bills.
Monthly electricity bills are a product of how much electricity you use per month and the rate you pay for electricity. In Lakewood, WA, the average monthly electricity bill for residential consumers is $114/month, which is calculated by multiplying the average monthly consumption by the average rate for electricity: 1,159 kWh * 10 ¢/kWh.
The average residential electricity rate in Lakewood, WA is 10 ¢/kWh, which is 13% lower than the average electricity rate in Washington of 11.38 ¢/kWh. The average residential electricity rate in Lakewood, WA is 36% lower than the national average rate of 15 ¢/kWh.
Solar panel systems help you save money by reducing your monthly electricity bills. Although a $50 or $100 electricity bill might not seem like much when you pay it each month, those bills add up quickly over ten, twenty or even thirty years: if you pay $100 per month in electricity now, you’ll pay over $54,000 on electricity over the next thirty years!
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Assuming a 2.6% annual increase based on inflation and average annual rate increases.